$2.34 Earnings Per Share Expected for Cigna Corporation (CI) This Quarter
Analysts expect Cigna Corporation (NYSE:CI) to announce earnings of $2.34 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Cigna Corporation’s earnings, with estimates ranging from $2.25 to $2.46. Cigna Corporation reported earnings per share of $1.94 in the same quarter last year, which suggests a positive year-over-year growth rate of 20.6%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Cigna Corporation will report full year earnings of $10.03 per share for the current fiscal year, with EPS estimates ranging from $9.95 to $10.10. For the next financial year, analysts expect that the firm will report earnings of $11.41 per share, with EPS estimates ranging from $11.10 to $12.11. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Cigna Corporation.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.43. The company had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 EPS.
Several analysts have commented on the company. UBS AG reissued a “buy” rating and issued a $186.00 price objective (up from $181.00) on shares of Cigna Corporation in a report on Monday, June 5th. Bank of America Corporation raised their price objective on Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a report on Friday, June 23rd. Jefferies Group LLC reissued a “buy” rating and issued a $183.00 price objective on shares of Cigna Corporation in a report on Thursday, June 8th. ValuEngine lowered Cigna Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Finally, Citigroup Inc. raised their price objective on Cigna Corporation from $185.00 to $198.00 and gave the company a “buy” rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $181.65.
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In other Cigna Corporation news, insider Michael W. Triplett sold 1,439 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $166.89, for a total transaction of $240,154.71. Following the transaction, the insider now owns 26,199 shares of the company’s stock, valued at $4,372,351.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mary T. Hoeltzel sold 525 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $177.59, for a total value of $93,234.75. Following the transaction, the vice president now directly owns 1,924 shares in the company, valued at approximately $341,683.16. The disclosure for this sale can be found here. Insiders have sold 223,781 shares of company stock worth $38,470,603 in the last three months. 1.30% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CI. American Beacon Advisors Inc. acquired a new position in Cigna Corporation during the first quarter worth $102,000. Capstone Investment Advisors Netherlands B.V. acquired a new position in Cigna Corporation during the second quarter worth $106,000. Founders Capital Management acquired a new position in Cigna Corporation during the first quarter worth $117,000. Mckinley Capital Management LLC Delaware acquired a new position in Cigna Corporation during the first quarter worth $122,000. Finally, Parallel Advisors LLC boosted its stake in Cigna Corporation by 62.3% during the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock worth $139,000 after buying an additional 307 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.
Cigna Corporation (NYSE CI) traded down 0.23% on Friday, reaching $184.56. The company’s stock had a trading volume of 1,353,464 shares. The firm has a 50-day moving average of $177.73 and a 200 day moving average of $163.73. The company has a market capitalization of $46.47 billion, a price-to-earnings ratio of 21.29 and a beta of 0.43. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $185.51.
Cigna Corporation Company Profile
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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